European stocks close higher as investor nerves settle; banks up 4% and UBS soars 12%
Publishing timestamp: 2023-03-21 12:53:36
Summary
European markets closed higher on Tuesday following UBS' takeover of Credit Suisse. Financial services led gains, up 4.4%, as the banking sector climbed 3.8%. European banks are likely to remain skittish despite added confidence, and the ECB is expected to continue its delicate balancing act in order not to push the eurozone into recession. Markets are bracing for the Federal Reserve's two-day monetary policy meeting, which begins Tuesday. In the UK, Just Eat announced it would be changing its employment model, resulting in 1,700 redundancies. European yields ticked higher on Tuesday, amid a pick-up in investor optimism and with eyes on the start of the Federal Reserve's monetary policy meeting.
Sentiment: NEUTRAL
Tickers: TKWY-NL, .SSEC, BL15-GB, 37ZM-GB, .FCHI, .HSI, DE2Y-DE, NWG-GB, UK2Y-GB, C, .GDAXI, .AXJO, .STOXX, BARC-GB, UBS, CSG.N-CH, .FTSE, 0RLS-GB, 0H00-GB, DE10Y-DE, .KS11, STAN-GB, SAB-ES, CBK-DE, 0RLW-GB, JPM, .FTMIB, UCG-IT, .SZI, CS, DE5Y-DE, IT2Y-IT, UBSG-CH, WFC, BAC, DBK-DE,
Keywords: standard chartered plc, ubs group ag, credit suisse group ag, unicredit spa, stoxx 600, dax, deutsche bank ag, breaking news: europe, barclays plc, natwest group plc, commerzbank ag, business news, banco de sabadell sa, ftse 100,
Source: https://www.cnbc.com/2023/03/21/european-markets-live-updates-stocks-news-banking-fears-ebb.html